China’s steel trade policies contribute to U.S. job loss: Heart of Steel
China’s steel trade policies contribute to U.S. job loss: Heart of Steel
by Olivera Perkins, The Plain Dealer
Mention manufacturing job loss, and the discussion invariably focuses on globalization.
Often it centers on companies moving jobs to low-wage countries at the expense of U.S. workers. However, the impact of the global economy on the U.S. steel industry really centers on unfair trade.
Steel is considered the backbone of manufacturing because it is used in autos, appliances and so many other products. When countries want to develop their economies, they often develop their steel industries. Such has been the case with China. During an economic downturn, these steel industries, often government-supported, regularly unload their surplus steel in the U.S. at artificially low prices in violation of trade laws.